Two-Unit Mixed-Use
289 Main Street, South Berwick, ME 03908
For Sale
$450,000
Street-level retail with display windows sits below a two-bedroom apartment.
Property Size2,464 SF
Price / SF$182.63
Days on Market418
Property Features for 289 Main Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Mixed-Use Components
Taxes and HOA fees
Annual Taxes
Amenities
public parking
Building Details
Building Size
Year Built
Buildings
Tenancy
Listing Agency:
Keller Williams Coastal and Lakes & Mountains Realty
(207) 475-0999
Listed By:
Sean Cody
(207) 370-9509
Source:
Integrityhomesrealestategroup
Added: Sep 23, 2025
Changed: Nov 11
Last Checked: Nov 13 at 7:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Coastal and Lakes & Mountains Realty
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Investment Insights
Based on property information with market context.
Built in 1850, this 2,464-square-foot mixed-use property combines a street-level retail space with a two-bedroom apartment on the upper floor. The storefront has large display windows and a flexible interior layout, while the apartment provides a separate residential component. The property is zoned B!.
At 289 Main Street in South Berwick, the building is on Route 236 near Route 4. Public parking and municipal services are available, and the property is within the walkable downtown area.
At 289 Main Street in South Berwick, the building is on Route 236 near Route 4. Public parking and municipal services are available, and the property is within the walkable downtown area.
Key Highlights
- 2,464‑square‑foot mixed‑use property
- Street‑level retail space with large display windows and a flexible layout
- Two‑bedroom apartment above the storefront
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,603
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,060
$612.1K
Cap Rate 7%
$437,186
$437.2K
Cap Rate 9%
$340,033
$340.0K
Market Conditions
NOI Build-Up for 2,464 SF
Gross rent
$53.2K $21.60/SF
− Vacancy
−$4.3K −$1.73/SF
EGI
$49.0K $19.87/SF
− OpEx
−$18.4K −$7.45/SF
NOI
$30.6K $12.42/SF
Area
York County, ME
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$612,060
Cap Rate 7%
$437,186
Cap Rate 9%
$340,033
Alternative Uses
Best Use
Mixed Use
$437.2K
$382.5K – $510.1K
NOI $30,603 @ 7.0% cap · market cap 6.80%
Second Best
Retail
$427.5K
$374.0K – $498.7K
NOI $29,923 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$781.1K
$683.4K – $911.3K
NOI $54,675 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 03908, ME
7,468
Population
3,169
Households
2.4
Avg Household Size
41
Median Age
39%
College-Educated
98%
High-School Grad
31.9 sq mi
ZIP Area
234
Density / Sq Mi
$97,927
Median Household Income
$52,008
Median Earnings
$1,535
Median Rent
$385,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in York County, ME
Properties on Market for Mixed-use properties in York County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail with display windows sits below a two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 289 Main Street South Berwick, ME.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,464‑square‑foot mixed‑use property; Street‑level retail space with large display windows and a flexible layout; Two‑bedroom apartment above the storefront
